LOUISIANA DELTA HARDWOOD LUMBER CO., INC.,
v.
COMMISSIONER OF INTERNAL REVENUE
PER CURIAM.
In 1942, certain oil and gas leases, on which, in 1941, petitioner had received bonuses and had deducted percentage depletion allowances, were surrendered and can-celled.
Petitioner, in its return for 1942, did not return the amount of percentage depletion taken in 1941, on the ground that the taking of the percentage depletion in 1941 did not reduce its income taxes for that year. The commissioner disagreed with this view and determined a deficiency accordingly.
The Tax Court sustained the commissioner’s determination, and petitioner is here insisting that its action was erroneous and its decision should be reversed.
We do not think so. Indeed, the decision is so fully supported by the authorities it cites1 as to render unnecessary, discussion by us. The decision is
Affirmed.
. Crabb v. Comm., 5 Cir., 119 F. 2d 772; Sneed v. Commissioner, 5 Cir., 119 F. 2d 767; Driscoll v. Commissioner, 5 Cir., 147 F. 2d 493; Douglas v. Commissioner, 8 Cir., 134 F. 2d 762: U. S. v. Dakota-Montana Oil Co., 288 U.S. 459, 53 S.Ct. 435, 77 L.Ed. 893; Herring v. Commissioner, 293 U.S. 322, 55 S.Ct. 179, 79 L.Ed. 389; Douglas v. Commissioner, 322 U.S. 275. 64 S.Ct. 988, 88 L.Ed. 1271.
Cases With Similar Vibessemantic neighbors from the corpus
Citator
Cited By
-
Boyden v. Webb, 208 F.2d 201 (9th Cir. 1953)
Authorities Cited
- United States v. Dakota-Montana Oil Co., 288 U.S. 459 (U.S. 1933)
- Herring v. Commissioner of Internal Revenue, 293 U.S. 322 (U.S. 1934)
- Douglas v. Commissioner of Internal Revenue, 322 U.S. 275 (U.S. 1944)
- Sneed v. Commissioner of Internal Revenue, 119 F.2d 767 (5th Cir. 1941)
- Crabb v. Commissioner of Internal Revenue, 119 F.2d 772 (5th Cir. 1941)
- Driscoll v. Commissioner of Internal Revenue, 147 F.2d 493 (5th Cir. 1945)
- Douglas v. Commissioner of Internal Revenue, 134 F.2d 762 (8th Cir. 1943)